Chongqing Beer (Group) Co. Ltd has informed the Carlsberg Group that it has accepted Carlsberg’s offer to acquire 100% of Chongqing Beer Group Assets Management Co. Ltd which is a holding company headquartered in Chongqing, China.

The company comprises a total of eight breweries with a capacity of approximately 12m hl. The breweries are located in three provinces (three in Jiangsu, three in Anhui and two in Zhejiang) and primarily sell brands in-licensed from Chongqing Brewery Company Co. Ltd (CBC) as well as the brand Tianmuhu.

The total purchase price for the Group will be RMB 1.56bn (approximately DKK 1.4bn). When the parties have executed the required transaction documents to give effect to the accepted offer, the transaction will have to go through the usual regulatory approval process.